Standard&Poor's Ratings Services affirmed its 'A' issuer credit rating (ICR) on the Colorado Housing and Finance Authority (CHFA). The rating applies to all debt supported by the authority's general obligation (GO) pledge. The outlook is stable. The 'A' ICR reflects our view of CHFA's: Well-diversified loan portfolio, which is characterized by strong insurance coverage; Relatively low-risk asset base, consisting primarily of first-lien, 30-year, fixed-rate, fully amortizing loans and highly rated investments; Experienced management team taking action to address the challenges the authority is facing; and Success in meeting its legislative mandate and maintaining a strong and positive relationship with the state government. Partly offsetting the above strengths, in our view, are CHFA's: Equity ratios that are the lowest
